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Budget And Banking

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Term
Definition
1. ATM   Automated Teller Machine, machine where you use debit card to get and deposit money  
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2. Account Balance   amount of money you have in your account at a certain time  
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3. Budget   An estimate of income and expenditure for a set period of time  
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4. Checking Account   An account at a bank against which checks can be drawn by the account depositor. An account at a bank against which checks can be drawn by the account depositor. An account at a bank against which checks can be  
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5. Cleared Check   check been cashed deposit though a bank  
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6. Credit Union   A nonprofit financial cooperative offering deposit accounts, low-interest loans  
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7. Debit Card   A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase  
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8. Deposit   A sum of money placed or kept in a bank account, usually to gain interest  
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9. Direct Deposit   The electronic transfer of a payment directly from the account of the payer to the recipient's account.  
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10. Endorse   signed the back of the check to cash it  
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11. Expense   The cost required for something; the money spent on something.  
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12. FDIC   Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits.  
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13. Fees   2.Money paid as part of a special transaction, e.g., for a privilege or for admission to something.  
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14. Financial Literacy   Financial literacy is the ability to understand finance  
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15. Financial Security   financial planning and wealth management services with the intent of increasing wealth while minimizing risk and tax burdens  
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16. Fixed Expense   Costs of owning and operating a property that are not discretionary and, except for occasional increases  
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17. Income   Money received, esp. on a regular basis, for work or through investments.  
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18. Interest   The charge for the privilege of borrowing money, typically expressed as an annual percentage rate.  
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19. Loan Overdraft   line of credit is a loan attached to your checking account  
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20. Memo   written message, esp. in business; a memorandum. written message, esp. in business; a memorandum. A written message, esp. in business; a memorandum  
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21. Needs   something you have to have to survive  
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22. Non-sufficient funds (NSF)   A term used to indicate when an item such as a check, or other transaction presented for payment is returned unpaid  
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23. Online Banking   Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail  
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24. Payee   A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable.  
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25. Payer   a person who pays money for something  
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26. Reconcile   when you check your recorders and the banks  
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27. Savings   putting money into an account for future use  
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28. Variable Expenses   Variable costs are expenses that change in proportion to the activity of a business.  
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29. Wants   Have a desire to possess or do (something); wish for.  
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30. Withdrawal   2.An act of taking money out of an account. 2.An act of taking money out of an account.  
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